IMF Cuts U.S. Growth Forecasts, Cites Trump Fiscal Plan Uncertainty

“The International Monetary Fund on Tuesday cut its growth forecasts for the U.S. economy to 2.1 percent for both 2017 and 2018, dropping its assumption that President Donald Trump’s tax cut and fiscal spending plans would boost growth. The IMF, after a review of U.S. economic policy, said the Trump administration was unlikely to achieve its goal of annual GDP growth of 3 percent over a sustained period, partly because the labor market is at a level consistent with full employment. The U.S. economy grew 1.6 percent last year.”  More …

Week 8: Russians Bearing Dirt Come Calling and a Scandal Finds a Home

“The scandal with no name took an accelerating turn this week as the New York Times uncoiled three stunning stories about a June 9, 2016, meeting in Trump Tower where Donald Trump’s president’s kin and campaign brain trust conferred with a Russian emissary and her entourage. The naming convention for political scandals insists that we incorporate a place name into it—Watergate, Teapot Dome, Whitewater, Chappaquiddick, My Lai, Abu Ghraib, Iran Contra, et al. In observance of this rule, the disquieting meeting in which a Russian offered dirt on Hillary Clinton to Donald Trump Jr., Jared Kushner, and then-campaign director Paul Manafort in the Manhattan skyscraper suggests “Trump Kowtower” as the carnival’s best appellation.”  More …